January 3, 2007 - Modern Distribution Management

Log In

Search

January 3, 2007

Kennametal to Buy Federal Signal’s Cutting Tool Business

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, News, Subscriber Only /

Kennametal Inc., Latrobe, PA, has agreed to acquire Federal Signal Corporation's cutting tool business comprised of Manchester Tool Company, ClappDiCO Corporation and On Time Machine, Inc. for $67 million.


&nbsp ;


With annual sales of about $40 million, Federal Signal Corporation's cutting tool business produces, markets and services super hard polycrystalline diamond and cubic boron nitride cutting tools, tool holding systems and certain specialized turning tools which are complementary to Kennametal's product range.


&nbsp ;


Kennametal says the acquisition is consistent with its growth strategy and with the company's previously stated intentions for the use of cash.


&nbsp ;


We ...

Kennametal to Buy Federal Signal’s Cutting Tool Business Read More »

Home Depot CEO Nardelli Resigns

Leave a Comment / Free, News, Subscriber Only /

The Home Depot's Bob Nardelli has resigned from his posts as president, CEO and chairman of the board as of Jan. 2, 2007. Frank Blake, the company's executive vice president, succeeds him.


The move comes amid criticism from investors over Nardelli's pay and slow stock gains during his reign.


The board also announced that CFO Carol Tome and head of the wholesale division, Joe DeAngelo, will be assuming additional responsibilities. Tome will be assuming responsibility for mergers and acquisitions, credit services and additional strategic responsibilities. DeAngelo was appointed to the newly created position of Chief Operating Officer. In this position, DeAngelo will continue to oversee HD Supply and will assume additional responsibilities for the retail ...

Home Depot CEO Nardelli Resigns Read More »

Praxair Buys Blue Rhino Assets in Canada

Leave a Comment / Finance, Mergers & Acquisitions, Free, Gases & Welding Equipment, Top Distributor Sectors, News, Subscriber Only /

Praxair Distribution, Danbury, CT, a division of Praxair Canada Inc., has acquired the Canadian propane tank-exchange business of Blue Rhino, a Ferrellgas Partners L.P. company.

Under the agreement, Praxair acquired more than 900 propane tank-exchange display cages at retail locations across Canada. In addition, it will take over the contract to supply more than 300 retail gasoline stations belonging to Shell Canada Products with 20-pound propane tanks for their exchange program. In conjunction with this transaction, Praxair also signed a distributor agreement with Superior Tank Incorporated. Superior Tank will serve Praxair's propane tank-exchange customers in the Atlantic Provinces.

Previously, Praxair provided propane ...

Praxair Buys Blue Rhino Assets in Canada Read More »

Manufacturing Expands in December

Leave a Comment / Economic Trends, Research & Analytics, Free, News, Subscriber Only /

Economic activity in the manufacturing sector expanded in December following a one-month decline, while the overall economy grew for the 62nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.


&nbsp ;


ISM reported that manufacturing proved resilient in December, as the PMI returned to growth registering 51.4 percent after a decline (under 50 percent) in November. Both New Orders and Production made significant gains to drive the PMI back above the breakeven point. Manufacturing employment remained relatively unchanged as the Employment Index shows a negligible change for the second consecutive month.


&nbsp ;


The Prices Index is trending downward, relieving some of the inflationary pressure that ...

Manufacturing Expands in December Read More »

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!